NEW YORK, Dec. 19, 2022 (GLOBE NEWSWIRE) — Gray Stone, a leading national commercial real estate finance firm, arranged a $28.5 million refinancing for The Azul Apartments in Dallas, TX, a 362-unit multi-family building. Greystone’s Thomas Wayda, Dan Sacks and Harrison Drucker worked on behalf of client, Azul Multifamily DE LLC, to secure a short term bridge loan from Lightstone Capital.

“I built a team with the sole intention of meeting each client’s financing needs, and sometimes that goes beyond an in-house debt solution,” said Mr. Sacks, Greystone’s managing director. “By leveraging an extensive network of capital partners, our team aims to ensure our clients are able to achieve their portfolio goals.”

“As an extension of Greystone’s already robust debt and equity offerings, my mission is to identify potential sources of funding that complement what we can offer from our platforms,” ​​added Mr. Wayda, a Managing Director at Greystone. “As a quality property that experienced rental disruption from a winter storm last year, we were able to find an immediate, right-sized solution to help the owner stabilize and ultimately pursue a permanent financing exit. It’s this versatility and execution excellence that really makes our team shine.”

Built in 1983, The Azul is located in the Lake Highlands submarket near the intersection of Highway 635 and Audelia Road, approximately 12 miles from downtown Dallas. The property, which consists of 20 three-story garden-style buildings, offers convenient access to Dallas-area employment offices. Property amenities include a swimming pool with sun terrace; a bark park; Business center; resident clubhouse; barbecue area; and outdoor fireplace.

About Graystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, being ranked as a top FHA, Fannie Mae and Freddie Mac lender in these sectors. Loans are offered through…